Ahmedabad doctor cheated of Rs 6 crore in real estate fraud

The complainant runs a hospital near Sattadhar crossroads and he has lodged a First Information Report (FIR) with the Detection of Crime Branch (DCB) police, identifying a fellow resident of Thaltej as the primary accused in the case.

According to the details mentioned in the FIR, the accused purportedly enticed him with the promise of a Rs 50 lakh return after five years, coupled with the allocation of three commercial shops within the scheme. Allegedly, the victim trusted the accused with a substantial sum amounting to Rs 6.25 crore. The victim exhausted his personal savings and also took loans procured from acquaintances, reports the Times of India.  

He stated that the culprit provided him with allotment documents for the three shops in 2019. However, in 2023, to his utter disbelief, he came to know that the shops he believed to be rightfully his had been sold to different individuals. Adding to the distress, he only received a paltry sum of Rs 48 lakh as a return on his significant investment. Upon confronting the culprit regarding the discrepancy, the realtor responded with threats of dire repercussions. Moreover, he alleged that the accused obtained funds from him and his business partners without their prior knowledge or their consent. 

In response to his grievance, the DCB police have registered a case against the accused, charging him with breach of trust and cheating under the Indian Penal Code (IPC). Subsequently, an investigation into the matter has been initiated to ascertain the veracity of the allegations and bring the perpetrator to justice.